IT Spending: Jefferies Sees Signs Of Hope

Is corporate IT spending showing signs of life?

Jefferies enterprise software analyst Katherine Egbert thinks so. She issued about a flurry of research notes today, saying various nice things about the improving climate, lifting targets and estimates for an assortment of stocks.

Egbert writes that a survey of IT security software resellers found signs of a pick-up: she writes that on average the 71 VARs surveyed now see 2009 spending up 9 percent, up from 7 percent in a comparable survey one quarter earlier. She writes that Q4 should show “a strong budget flush,” with a small majority expecting higher year-over-year sales in the quarter.

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